Fox Hill Wealth Management Increases Stake in SPDR Gold Shares $GLD

Fox Hill Wealth Management raised its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,164 shares of the exchange traded fund’s stock after acquiring an additional 1,400 shares during the quarter. SPDR Gold Shares comprises 3.3% of Fox Hill Wealth Management’s portfolio, making the stock its 5th largest position. Fox Hill Wealth Management’s holdings in SPDR Gold Shares were worth $7,198,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GLD. Bank of Montreal Can bought a new position in SPDR Gold Shares in the third quarter valued at approximately $556,282,000. Corient Private Wealth LLC boosted its stake in SPDR Gold Shares by 108.1% in the second quarter. Corient Private Wealth LLC now owns 1,077,230 shares of the exchange traded fund’s stock valued at $327,500,000 after acquiring an additional 559,507 shares during the last quarter. Axxcess Wealth Management LLC boosted its stake in SPDR Gold Shares by 1,158.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 504,462 shares of the exchange traded fund’s stock valued at $199,923,000 after acquiring an additional 464,376 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in SPDR Gold Shares by 103.7% in the fourth quarter. Teacher Retirement System of Texas now owns 568,900 shares of the exchange traded fund’s stock valued at $225,461,000 after acquiring an additional 289,550 shares during the last quarter. Finally, Dynasty Wealth Management LLC bought a new position in SPDR Gold Shares in the fourth quarter valued at approximately $108,320,000. 42.19% of the stock is owned by institutional investors.

Trending Headlines about SPDR Gold Shares

Here are the key news stories impacting SPDR Gold Shares this week:

• Positive Sentiment: Gold found buyers after testing major support, with some analysts saying the market may be forming a bottom near the $4,000 area. Gold (XAU/USD) Price Forecast: Undercut Setup Signals Potential Bottom
• Positive Sentiment: Some strategists argued the longer-term gold bull market is still intact despite the recent drop below key price levels, which could encourage dip buying in GLD. Don’t fear a drop below $4,000, gold’s bull market isnt broken – Thorsten Polleit
• Neutral Sentiment: Gold and GLD remain under pressure from higher-for-longer interest rate expectations, a stronger dollar, and elevated bond yields, which have driven the metal to recent six- and seven-month lows. Gold slumps to 6-month low even as inflation fears rise. Here’s why bullion is out of favor
• Neutral Sentiment: Mixed macro signals are keeping the ETF volatile: hotter-than-expected PPI and CPI readings are bearish for gold, while safe-haven demand from geopolitical tensions and talk of a potential bottom are offering some support. Update: Gold Rises on a Restart of Iranian Talks; U.S. Wholesale Inflation Rose More Than Expected in May
• Negative Sentiment: Several market reports warned that the recent decline may not be over, with GLD breaking key technical support and some traders betting the pain could last longer if rates stay elevated. As gold’s tumble continues, traders bet the pain may last for two more years

SPDR Gold Shares Stock Performance

Shares of GLD stock opened at $386.32 on Friday. SPDR Gold Shares has a 52-week low of $299.89 and a 52-week high of $509.70. The stock has a market cap of $140.50 billion, a PE ratio of -32.43 and a beta of 0.14. The firm’s 50 day moving average price is $422.52 and its two-hundred day moving average price is $427.97.

SPDR Gold Shares Profile

SPDR Gold Trust (the Trust) is an investment trust. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion, less the Trust’s expenses. The Trust’s business activity is the investment of gold. The Trust creates and redeems Shares from time to time, but in one or more Baskets (a Basket equals a block of 100,000 Shares). The Trust issues Shares in Baskets to certain authorized participants (Authorized Participants) on an ongoing basis. The creation and redemption of Baskets is only made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of gold and any cash represented by the Baskets being created or redeemed, the amount of which will be based on the combined net asset value of various Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received.